NextCell Pharma

Third quarter (2024-03-01 until 2024-05-31)

● Operating income amounted to 2,482 (4,189) TSEK,
    of which Cellaviva amounted to 2,442 (3,040) TSEK.

● Net Income amounted to 2,442 (3,040) SEK

● Operating result amounted to -8,821 (-10,916) TSEK.

● Earnings per share* amounted to -0.26 (-0.32) SEK.

● Cash and Bank amounted to 20,798 (63,230) TSEK.

● Solidity** amounted to 76.9 (88.1) percent.

First nine months (2023-09-01 until 2024-05-31)

● Operating income amounted to 9,582 (9,937) TSEK,
    of which Cellaviva amounted to 9,023 (7,284) TSEK.

● Net Income amounted to 9,022 (7,284) SEK

● Operating result amounted to -28,710 (-31,243) TSEK.

● Earnings per share* amounted to -0.84 (-0.91) SEK.

Earnings per share: Profit for the period divided by average number of shares. Average number of shares for the third quarter 2023/2024: 34,379,523 (34,379,523) shares. Number of shares in NextCell as of May 31, 2024: 34,379,523 (34,379,523) shares.
**Solidity: Equity to total balance sheet.

Significant events in the third quarter

● NextCell announced in early March that it was establishing the subsidiary QVance to meet a Nordic demand for quality analyses. The launch is a strategic addition to NextCell to increase the company's sales and presence in the market for advanced therapy drugs.

● At the end of March, the company announced that the Swedish Medical Products Agency had approved the application to conduct a subgroup analysis of the treatment effect of ProTrans in 30 adolescents in the age group 12-21 years treated in the ProTrans-Young study. The approval for the subgroup analysis by the Swedish Medical Products Agency means that the primary efficacy endpoint readout is available after 12 months. Results from the subgroup analysis are planned to be presented in the second quarter of 2025.

● In mid-April, Nextcell Pharma announced that its longtime Chairman of the Board, Anders Essen-Möller, after ten years of dedicated leadership, will step down from his role on May 20, 2024 due to health reasons.

● NextCell announced in mid-April that the Health and Social Care Inspectorate (IVO) has granted their tissue facility Cellaviva permission to handle the amniotic tissue.

● On April 24th the company announced that the Board of Directors resolves on a rights issue of units of approximately SEK 40.1 million, subject to approval by an Extraordinary General Meeting.

● On April 24th NextCell gave notice of an Extraordinary General Meeting to be held May 27th.

● At the end of May, NextCell announced that the Extraor­dinary General Meeting had resolved that the number of Board members had been changed from a minimum of four (4) to a minimum of 3 (three), and that the remuneration to the Board members should be unpaid. Furthermore, it was resolved to re-elect Hans-Peter Ekre, Camilla Myhre Sandberg and Edvard Smith for the period until the end of the next Annual General Meeting. Hans-Peter Ekre was elected as new Chairman of the Board- The AGM further resolved, in accordance with the Board of Directors' proposal, to approve the Board of Directors' resolution on 24 April 2024 on a new share issue, with preferential rights for existing shareholders, of a maximum of 37,817,475 shares and a maximum of 37,817,475 warrants of series TO2, entitling to subscrip­tion of a total of 37,817,475 shares in the company. The issues are carried out with the issuance of so-called units. One (1) unit consists of one (1) share and one (1) warrant of series TO2.

● At the end of May, the company announced that pa­tients who were treated with a single dose of ProTrans five years ago in the randomized, placebo-controlled phase II trial ProTrans-2 have significantly maintained higher endogenous insulin production than patients who received placebo. The results are in line with previously reported 3-year data and demonstrates a disease-modifying treatment with long-lasting efficacy.

Significant events after the reporting period

● At the beginning of June, NextCell announced that the Company had agreed on a so-called top guarantee of a total of approximately SEK 8.0 million, corresponding to approximately 20.0 percent of the issue volume. Through the additional top guarantee, the Rights Issue is covered up to approximately 100 percent by subscrip­tion and guarantee commitments.

● At the beginning of June, the company published a supplementary prospectus due to the fact that it had entered into an agreement on a so-called top guarantee of a total of approximately SEK 8.0 million in the ongo­ing rights issue.

● At the beginning of June, NextCell announced that the company's Board of Directors, management and key employees, who have previously entered into subscrip­tion commitments of up to a total of approximately SEK 1.5 million, announced that they will register their interest in subscribing for units for a total of approxi­mately SEK 3.3 million, corresponding to 8.2 percent of the rights issue.

● The company announced in mid-June that the Data Safety Monitoring Board for the ProTrans-Young study had recommended the principal investigator, Professor Per-Ola Carlsson, to continue with treatment of children in the younger age group 7-11 years. This decision is based on a review of all safety data from the 36 children and adolescents who have participated in the study so far. The recruitment of the 30 children aged 7-11 will begin in August 2024.

● In mid-June, NextCell announced the outcome of the rights issue. The outcome showed that 34,747,218 units, corresponding to approximately 91.9 percent of the Rights Issue, were subscribed for with unit rights, and that 22,636,886 units were applied for subscription without the support of unit rights, corresponding to ap­proximately 59.9 percent of the Rights Issue. Together, subscriptions of units with the support of unit rights and subscription applications of units without the support of unit rights corresponded to approximately 151.7 percent of the Rights Issue. The Rights Issue was thus oversubscribed and NextCell will receive approximately SEK 40.1 million before deduction of issue costs.

● At the beginning of July, NextCell announced that it is carrying out a directed share issue to guarantors in connection with the completed rights issue, corre­sponding to 894,232 units, which reduces the guarantee compensation by approximately SEK 1.34 million.

● NextCell announced in early March that it was establishing the subsidiary QVance to meet a Nordic demand for quality analyses. The launch is a strategic addition to NextCell to increase the company's sales and presence in the market for advanced therapy drugs.